Stokes Family Office LLC Invests $355,000 in Analog Devices, Inc. (NASDAQ:ADI)

Stokes Family Office LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,671 shares of the semiconductor company’s stock, valued at approximately $355,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp acquired a new stake in Analog Devices in the 4th quarter valued at $460,000. Czech National Bank increased its holdings in Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Finally, Synergy Asset Management LLC increased its holdings in Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after purchasing an additional 2,554 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $209.97 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $217.62 and its two-hundred day moving average price is $220.15. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market capitalization of $104.14 billion, a P/E ratio of 66.87, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $1.73 earnings per share. Analog Devices’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.89%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADI. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. UBS Group raised their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Benchmark raised their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.